ASE Technology Hldg (ASX) Stock Moves -0.4%: What You Should Know
ASE Technology Hldg (ASX) closed at $7.50 in the latest trading session, marking a -0.4% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.48%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq lost 3.02%.
Heading into today, shares of the integrated circuit maker had lost 12.14% over the past month, lagging the Computer and Technology sector's loss of 4.28% and the S&P 500's gain of 1.23% in that time.
ASX will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.12, up 100% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for ASX. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 5.26% higher. ASX is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that ASX has a Forward P/E ratio of 12.55 right now. Its industry sports an average Forward P/E of 21.01, so we one might conclude that ASX is trading at a discount comparatively.
Meanwhile, ASX's PEG ratio is currently 0.84. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Electronics - Semiconductors stocks are, on average, holding a PEG ratio of 1.87 based on yesterday's closing prices.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 66, putting it in the top 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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ASE Technology Holding Co., Ltd. (ASX) : Free Stock Analysis Report
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